TD Cowen Boosts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $73.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target raised by TD Cowen from $61.00 to $73.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently weighed in on RARE. Cantor Fitzgerald restated an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, October 1st. Barclays dropped their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Thursday, September 26th. Wedbush lifted their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $88.29.

Ultragenyx Pharmaceutical Stock Up 0.2 %

Ultragenyx Pharmaceutical stock opened at $54.82 on Monday. Ultragenyx Pharmaceutical has a 12-month low of $31.62 and a 12-month high of $60.37. The stock has a 50-day simple moving average of $56.03 and a 200 day simple moving average of $47.76. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of -6.83 and a beta of 0.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.12. The company had revenue of $147.03 million for the quarter, compared to analyst estimates of $123.20 million. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. Ultragenyx Pharmaceutical’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the business earned ($2.25) earnings per share. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -6.28 EPS for the current year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the sale, the chief executive officer now directly owns 2,243,985 shares of the company’s stock, valued at $112,580,727.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,556 shares of company stock valued at $2,519,367. 5.80% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 0.3% during the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after buying an additional 26,575 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Ultragenyx Pharmaceutical by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after acquiring an additional 120,175 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Ultragenyx Pharmaceutical by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock worth $112,096,000 after acquiring an additional 17,362 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 8.7% in the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock valued at $86,599,000 after purchasing an additional 168,345 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after purchasing an additional 942,529 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.